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Coca-Cola Shares Lose Their Fizz, Q2 Results Miss Estimates


Shares of Coca-Cola are losing their fizz on Tuesday. The soft-drink maker posted second quarter sales that missed forecasts. Earnings came in at $0.64 cents a share, just one penny better than a year ago. Sales declined more than 1% to roughly $12.6 billion. That's slightly below what analysts had been expecting. Coca-Cola was a key sponsor at the World Cup and the sporting event helped Coca-Cola's global case volume to rise 3%, led by Asia. But, case volume in North America, Europe, and the World Cup host continent Latin America didn't go up. Still, CEO Muhtar Kent said the brand is growing for "the first time in a long time" and he attributes the gain to increased marketing effort. TheStreet's Julia Sun reports from New York.